This profile is currently being reviewed by the BestForex.io editorial team. Some information may be incomplete or subject to change.
OFX Review
OFX is an Australian cross border payments company regulated by ASIC. In July 2026 its board agreed to a takeover by UK fintech Equals, not yet final.
Min Deposit
$1
Spreads From
A rate margin of roughly 0.4 to 1.5 percent instead of a spread
Max Leverage
Not offered, this is a currency transfer company, not a leveraged broker
Platforms
OFX website, OFX money transfer app
Pros
- Regulated in Australia by ASIC under a real, checkable license number
- No separate transfer fee on most payments, only a rate margin
- Operates across a very large number of countries and currencies
- Long track record stretching back to 1998 as OzForex
Cons
- Not a leveraged forex broker, this is a currency transfer and payments company
- A pending takeover by Equals could change ownership and terms later in 2026
- Exchange rate margins vary, so always compare the real rate you are offered
- Minimum transfer amounts can be too high for very small currency needs
OFX began in 1998 as OzForex, an Australian international money transfer company. It later listed on the ASX and grew into a global payments business under the OFX Group name. It focuses on currency transfers for individuals and companies, not leveraged forex trading.
OzForex Limited holds an Australian Financial Services Licence from ASIC, number 226484, and belongs to the Australian Financial Complaints Authority. OFX charges no separate transfer fee on most payments and instead earns money through a margin added to the market exchange rate, typically a fraction of a percent up to around 1.5 percent.
On 23 July 2026, the OFX board agreed to a takeover by UK payments group Equals, worth about 247 million Australian dollars in cash, at a large premium to the prior share price. The deal still needs shareholder approval and full due diligence, so OFX remains an independent, ASX listed, ASIC regulated business for now.
Min. Deposit
USD 1
Max Leverage
Not offered, this is a currency transfer company, not a leveraged broker
Spreads From
A rate margin of roughly 0.4 to 1.5 percent instead of a spread
Platforms
Regulation, fund safety, track record
Spreads, execution, leverage
Platform quality, charting, features
Analysis, webinars, learning materials
Support quality, responsiveness
Mobile app quality, features
